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And speaking of memos, I've got a fresh memo hot off the press: HOD 4130 What y'all think?

It appears you haven't received my memo yet. I advise you to wait until we get up to 4400. :)

Well, I can't argue with you on that. I'm sure there is a plethora of reasons that's wrong with the economy. But that ain't how you make money in the market. The only reason why we retraced from 4095 is because of the TECHNICAL, not FUNDAMENTAL. We are NOT done with this rally yet. As I...

Or it could be another repeat of Tuesday. Looks pretty similar.

INTC puked on earnings and its stock got hammered in ETH. And yet, unlike with MSFT, ES is hardly dropping in the ATH. It doesn't wanna hear about it. It wants you to just STFU. Just go home, you stinking #$@%^&!

Sorry but what was the point of this video? It looks like 4 hours of nothing.

It's eerily quiet, almost too quiet. Something doesn't feel right. I suggest you tread carefully with a tight stop. But I think they will try to squeeze as much as possible before abandoning her. And we're not that far from 25,000.

So I see you're running an algo. They can go rogue on you, if you're not careful. Been there and done that myself. Anyway, thanks for the update.

Oh that? ES actually shot up with the positive earnings from MSFT before the closing bell. But by the time Globex opened, MSFT gave a negative guidance and ES was already taking a nosedive from the get go. It tanked 30 points within the first 30 minutes. But WTF? The damn thing shot back up...

ES shot up over 40 points today and you're complaining over a measly 8 point drop? :sneaky: I think the smart money will use any excuse to push the market down so they can get in on the cheap.

Yeah, but CL has a lot of tricks up her sleeves compared to other instruments. Too many damn fakeouts. However, unlike the previous false breakout, we're basing in a range. That's a good thing IMO. Once we break out of that range, I think we have a good shot at reaching 93.

Just out of curiosity, how many lots is that per trade? Are they more or less consistent or varies by trade? Also do you trade both sides, eg. long and short? And, if you don't mind, how big is the stop loss?

Yeah, I would stay out until the dust clears. As for what the Fed will do, I'm pretty sure they're done raising rates. Powell will most likely keep it at 50 bps this time, then go down to 25 at the next time.

There's resistance at 4100, if you don't know already. NQ already cleared above its TL and we're so close to it that I don't think there's any way we would get bogged down by it. I don't think there's any more bears left to resist the bulls. Unless Personal Income data f*cks everything up in...

Unlike ES, NQ has finally cleared above the trendline. The daily candle opened and will likely close above the trendline for the first time. Ain't that something? :thumbsup: (Oh, did I tell you we're going up to 4400? :)) Weekly Daily

Man, ain't she tight today. Not even one of them large fake shakeouts we're so used to seeing. Yup, FOMC next week. I think Powell will cozy up to Wall Street bankers.

You just might get it. Don't get too greedy thouogh.

That dude only posts after the market closes, which might actually be a good thing for this forum. :)

Volume or no volume, I would hardly call this day "climactic". We hardly moved after the GDP number and the opening was just a dud. A mere 10 point move on the 5 minute candle is nothing to write home about.

Going back down again. Get ready for the rollercoaster